Ocean Power Technologies Announces Pricing of $3.0 Million Public Offering

Rhea-AI Summary

Ocean Power Technologies (OPTT) priced a public offering expected to raise $3.0 million in gross proceeds on a best-efforts basis.

The offering comprises 6,000,000 common shares together with warrants to purchase up to 6,000,000 additional common shares. The warrants have a $0.50-per-share exercise price and expire five years from issuance. The company expects closing on or about November 16, 2026, subject to customary closing conditions. Gross proceeds exclude placement agent fees and other related expenses. D. Boral Capital is the exclusive placement agent.

1 point · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 4 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Public offering expected to provide $3.0 million in gross proceeds before fees and expenses. 49% of market cap

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Offering of 6,000,000 common shares would dilute existing holders.
• Minor point. Forward-looking: it has not happened yet and may not happen.Warrants for up to 6,000,000 shares at $0.50, expiring five years from issuance, create potential additional dilution.
• Minor pointOffering is on a best-efforts basis.
• Minor point. Forward-looking: it has not happened yet and may not happen.Placement agent fees and related expenses will reduce offering proceeds.

News Explained

The company has priced an offering of 6,000,000 new common shares for expected gross proceeds of $3.0 million, but closing is still expected on or about November 16, 2026, subject to customary conditions. If completed, issuing the shares would increase the share count and reduce existing holders’ percentage ownership; exercise of the warrants could add up to 6,000,000 further shares.

Argus 15 min delay 37 alerts

-37.18% vs previous close $0.4300 last price 62.1x rel. volume Open Argus

Details

Market Reaction – OPTT

$0.40 – $0.74 Day Range

$3.87M Mkt Cap at Last Price

On Nov 13, the day this news came out, the latest delayed price for OPTT is 37.18% below the previous close. Our momentum scanner has recorded 37 alerts for this stock so far that day. The latest delayed price is $0.43. Relative volume is exceptionally heavy at 62.1x what this stock usually trades by this time of day.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Offering securities: 6,000,000 common shares; warrants for up to 6,000,000 shares Expected gross proceeds: $3.0 million Warrant exercise price: $0.50 per share +3 more

Offering securities

6,000,000 common shares; warrants for up to 6,000,000 shares

Public offering

Expected gross proceeds

$3.0 million

Before placement agent fees and other related expenses

Warrant exercise price

$0.50 per share

Common warrants

Warrant expiration

5 years from the date of issuance

Common warrants

Expected offering closing

On or about November 16, 2026

Subject to customary closing conditions

Registration statement effective

November 12, 2026

Form S-1/A

Key Terms

common warrants, best-efforts, form s-1/a, registration statement

4 terms

common warrants financial

"common stock together with common warrants to purchase up to 6,000,000 shares"

A common warrant is a tradable instrument that gives its holder the right to buy a company’s common shares at a fixed price within a set time period, similar to a coupon that can be redeemed later to purchase stock. Investors care because exercising warrants can boost potential gains if the stock rises, but it can also dilute existing shareholders by increasing the number of shares outstanding, which can lower per-share value.

best-efforts financial

"on a "best-efforts" basis"

A "best-efforts" agreement is a commitment by a broker or underwriter to try hard to sell a batch of securities without guaranteeing they will all be sold. Think of it like a real-estate agent who markets your house and works to find buyers: the agent must put in strong effort but won’t promise a sale — that matters to investors because it increases the chance some offerings remain unsold, which can affect the issuer’s financing and the security’s market supply and pricing.

form s-1/a regulatory

"pursuant to an effective registration statement on Form S-1/A"

An amendment to an SEC Form S-1 registration statement filed under the Securities Act of 1933 to update, correct, or add disclosures about a planned securities offering. A Form S-1/A supplements or replaces information in the original S-1 (and can be filed multiple times) so the registration reflects the issuer’s most current disclosures; the amendment itself does not automatically make the offering effective unless the SEC or applicable rules declare the registration effective.

registration statement regulatory

"pursuant to an effective registration statement on Form S-1/A"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MONROE TOWNSHIP, N.J., Nov. 13, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT), a leader in intelligent maritime solutions and services, today announced the pricing of its previously announced public offering of 6,000,000 shares of common stock together with common warrants to purchase up to 6,000,000 shares of common stock, on a "best-efforts" basis (the “Offering”). The warrants will have an exercise price of $0.50 per share and will expire 5 years from the date of issuance. The common stock is listed on the NYSE American under the symbol "OPTT".

D. Boral Capital LLC is acting as the exclusive placement agent for the Offering.

The closing of the Offering is expected to occur on or about November 16, 2026, subject to the satisfaction of customary closing conditions. The Company expects to receive aggregate gross proceeds of $3.0 million from the Offering, before deducting placement agent fees and other related expenses.

The shares of common stock and common warrants are being offered by the Company pursuant to an effective registration statement on Form S-1/A (Registration No. 333-298786), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 12, 2026.

A definitive prospectus describing the terms of the proposed offering will be filed with the SEC. Once filed, it will be available on the SEC’s website at https://www.sec.gov. A copy of the definitive prospectus relating to the offering may be obtained, when available, from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, or by telephone at (212) 404-7002, or by email at dbccapitalmarkets@dboralcapital.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ocean Power Technologies

Ocean Power Technologies, Inc. (NYSE American: OPTT) provides intelligent maritime systems and services for defense and security, offshore energy, science and research, and offshore wind. Its PowerBuoy® platforms deliver clean, renewable power and real-time data communications for remote maritime and subsea applications. The company also offers the WAM-V® autonomous surface vehicle and Merrows™ software for multi-domain awareness. For more information, visit www.oceanpowertechnologies.com.

Forward-Looking Statements

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends, and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. These risks include, but are not limited to, market conditions, regulatory developments, and other risks described in the Company’s filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company’s Annual Reports on Form 10-K for the year ended April 30, 2026. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information, or otherwise.

Contacts

Ocean Power Technologies

Investors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com

Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much does Ocean Power Technologies expect to raise from its public offering?

Ocean Power Technologies expects $3.0 million in gross proceeds, before placement agent fees and other related expenses. The offering includes 6,000,000 common shares together with warrants to purchase up to 6,000,000 common shares.

When is Ocean Power Technologies' public offering expected to close?

The company expects the offering to close on or about November 16, 2026, subject to satisfaction of customary closing conditions.